Goldman Sachs sees three paths for the S&P 500 — and one would leave it nearly 20% lower
Fear is in the air, with global equities tumbling and havens on the rise as investors enter a decisive week that could bring a war to Europe, if more diplomatic efforts fail to persuade Russia to back off a Ukraine invasion.
Over the weekend, Goldman Sachs rolled out its own fresh S&P 500 year-end forecast, dropping that to 4,900 from 5,100, which is still 11% higher than where prices closed Friday. Kostin and the team see two-sided risks to their baseline S&P 500 forecast, but “with a larger downside tail,” and offered up three alternative scenarios for stocks apart from that baseline view:
Splunk shares SPLK, -2.76% are surging on reports of a $20 billion takeover offer from Cisco Systems CSCO, -1.77% for the data analytics software company. While COVID-19 restrictions ease up globally, New Zealand and Hong Kong are being overwhelmed by cases, and scientists are warning over what the next mutation could bring.
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